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Hedge fund admits half its capital stuck on FTX exchange
- greatgib 4y ago"Lost" would be a more appropriate word for them instead of "stuck"...
- techdragon 4y agoUntil we have to write it off… it’s just stuck… and we’ll sue you for defamation if you say otherwise… /sarcasm
- AmericanOP 4y agoIt is not lost. It can be found on the glowing FTX sign on FTX Arena. With a pick and chisel, it can also be unstuck. And, given an unspecific amount of time with inflation at current rates, a buyer could be found to restore capital.
- kss238 4y agohttps://archive.ph/Q26mN https://archive.ph/Q26mN
- danielfoster 4y ago-50% is still a better return than many tech stocks.
- melling 4y agoPerhaps listening to Warren Buffett explaining how companies are businesses, and how you are buying part of the company will help explain the difference. For example, when Meta P/E was 9, people should have said to themselves “hey, that’s an incredible opportunity”, rather than waste all that time hating on the company. Crypto could recover if enough people “believe“ but there’s no real business
- djbebs 4y agoThe peoblem with meta was never the quality of the business. It was with your ability to extract value and control from it. The reason meta is uninvestible is because they are a clear cut case of structurely unsound corporate governance.
- melling 4y agoDifferent opinions. That’s what makes a market. You saw one thing and I focused on other aspects. We don’t need to convince each other. The market will tell us who is right.
- free_hacker2 4y ago
- thunky 4y ago> For example, when Meta P/E was 9 Is there something special about the number 9? Wondering why you waited to buy at 9 but 10 was no good.
- melling 4y agoI don’t have a magic formula and I’m often wrong. Meta dropped 20% in one day and I saw an opportunity. https://www.bbc.com/news/business-63406803.amp https://www.bbc.com/news/business-63406803.amp The stock did continue lower and I certainly didn’t get the bottom. All I’m saying is take the emotion out of it and try to be open minded. Hating on a company has little value. At P/E of 9 there’s a safer margin Also, I didn’t say Buffett would buy META. He’s not really a tech investor.
- thunky 4y ago> take the emotion out of it It doesn't sound like you did that, though. You responded to a drop in share price rather than fundamentals. As you just said, it really had less to do with the number 9 and more to do with the number 20. But if you thought Meta was a good investment at PE 10 or higher, I'm not sure why you wouldn't have already owned it. Now that the PE is back above 10, does that mean you're selling it?
- doorman2 4y agoLet's say all the money is in BTC, which is down 74% YoY. If you started with $100, you'd have $26. And then you lost half of it, which brings you to $13. So you'd be down 87%, which is on-par with many tech stocks.
- naveen99 4y agoLeverage and self custody can balance each other.
- kwere 4y agoany important sum should be kept with more custodians unless its not possible. As a retail investor with retirement savings i think 3 different reputable (insured) brokers/custodians are the minimum. Bad practice for "professionals"